CD Rates Fall But Are Still Competitive at Wings Financial Credit Union

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APYMINMAXINSTITUTIONPRODUCTDETAILS
1.66*%$90k-Wings Financial Credit Union4 Year Dividend Paid Quarterly Share Certificate
1.15*%$90k-Wings Financial Credit Union3 Year Dividend Paid Quarterly Share Certificate
0.80*%$90k-Wings Financial Credit Union2 Year Dividend Paid Quarterly Share Certificate
Accounts mentioned in this post. Rates as of July 23, 2016.

We lost another two-percent 5-year CD. Wings Financial Credit Union cut all of its CD rates yesterday, and its 5-year CD yield fell from 2.12% to 1.96%. Like at other credit unions and banks, the 5-year CD rate has fallen the most this year at Wings. The 5-year CD rate has fallen 35 basis points this year whereas the 2-year CD rate has fallen only 15 basis points.

Even though the rates have fallen, Wings Financial's CD and IRA CD rates are still competitive. Below is a list of the most competitive rates as shown on the credit union's rates page as of 10/31/2012:

  • 1.96% APY 5-year CD (was 2.12%)
  • 1.71% APY 4-year CD (was 1.86%)
  • 1.56% APY 3-year CD (was 1.71%)
  • 1.26% APY 2-year CD (was 1.31%)

Minimum deposit is $500. According to the account disclosure, the early withdrawal penalty is 180 days of interest for terms over 1 year and 30 days of interest for terms of 1 year and less.

Membership

Wings used to be only available to those employed in the air transportation industry. Over the years they have expanded the field of membership. Most people in the Minneapolis-St. Paul Metro area and in the Seattle-Tacoma Metro area are now eligible. Please refer to the Wings membership page for the full details.

The membership application can be done online. A minimum balance of $5 in the share savings account is required. When I checked with the credit union last year, I was told that a CD couldn't be opened at the same time that you apply for membership. You can fund the CD with money from the savings account, so if you apply for membership online, you might want to fund the share savings account with the money you want to use to fund the CD.

Credit Union Overview

Wings Financial is a large credit union with $3.66 billion in assets and with branches across the US including the states of California, Florida, Georgia, Hawaii, Michigan, Minnesota, Tennessee and Washington.

It has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas Ratio of 3.98% (excellent) based on June 2012 data. Please refer to our financial overview of Wings Financial Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 68601).

How These CD Rates Compare

The highest 5-year CD yield that's nationally available is 2.12% APY at Stanford FCU. However, this requires a $100K minimum and a checking account with direct deposit. The second highest yield is 2.00% APY which is available at one small bank and a few all-access credit unions. The highest yield at an internet bank is 1.85% APY at CIT Bank and Nationwide Bank.

Wings Financial's current 3-year CD yield is actually the most competitive CD rate. The highest 3-year CD rate that's nationally available is 1.51% APY for a $100K minimum at Sandia Laboratory FCU. You can get 1.75% APY at Connexus Credit Union but this requires an active checking account.

Searching for the Best CD and IRA CD Rates

To search for the best nationwide rates and the best rates in your state, please refer to the following sections of DepositAccounts.com:

Comments
Top CD Rates at Wings Financial Credit Union - Limited Membership

Wings Financial Credit Union continues to offer competitive CD and IRA CD rates. Rates have slowly fallen, but they have fallen less than many other credit unions. Below is a list of the most competitive rates as shown on the credit union's rates page as of 5/2/2012:

  • 2.22% APY 5-year CD
  • 1.86% APY 4-year CD
  • 1.71% APY 3-year CD
  • 1.31% APY 2-year CD

Minimum deposit is $500. According to the account disclosure, the early withdrawal penalty is 180 days of interest for terms over 1 year and 30 days of interest for terms of 1...

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New Higher CD Rates at Wings Financial Credit Union - Limited Membership

Wings Financial Credit Union did something that has been rare this year. It raised its CD rates. The rates went up by 15 basis points which makes it rates for CD terms of 2 to 5 years very competitive. These CD and IRA CD rates as listed at the credit unions rates page as of 2/19/2011 include:

  • 1.81% APY 2-year CD
  • 2.07% APY 3-year CD
  • 2.22% APY 4-year CD
  • 2.73% APY 5-year CD

Minimum deposit is $500. According to the CSR, the early withdrawal penalty is 180 days of interest for terms over 1 year...

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CD Special and Eligibility Update at Wings Financial Credit Union

Wings Financial Credit Union used to be only available to those employed in the air transportation industry. A couple of years ago they expanded eligibility to include anyone who lives in the Minneapolis-St. Paul Metro Area. Last year they continued to expand their field of membership to include anyone who lives in certain parts of the Seattle-Tacoma metro areas in Washington State.

It's nice to see this major credit union is becoming easier to join. Wings Financial used to offer very competitive CD and money market rates. The rates are not...

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2.78% 12-Month CD &t 3.09% 27-Month CD at Wings Financial CU in MN & Other Places with Limited Membership
Update 11/14/09: The rates have fallen, but they remain very competitive. Please refer to the credit union's website for the latest rates.

Wings Financial Credit Union continues to offer several very competitive CD rates. In addition, they have expanded their field of membership beyond just the airline industry to include all those who live or work in the Minneapolis/St. Paul metro area.

The special 27-month CD and all of their standard CDs have competitive rates. Minimum deposit is $500. These are also available in an IRA. Below is the full list...



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3.09% 27-Month CD & 2.78% 12-Month CD at Wings Financial CU - Limited Membership
Wings Financial Credit Union is offering several very competitive CD rates. They have two CD specials which include a 2.17% APY 5-month CD and a 3.09% APY 27-month CD. The credit union's regular share certificate rates are also competitive. These include a 2.38% APY 6-month CD, a 2.78% APY 1-year CD and a 3.49% APY 5-year CD. Minimum deposit is $500, and these are available as both regular and IRA share certificates.

Another good deal is the credit union's Wings Investment Money Market Account. It's a tiered rate account with a...

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